According to bank provided information. the proposed Project with Absa Bank Limited is an up to US$140 million equivalent in South African Rands (ZAR) working capital support to eligible suppliers of a large manufacturing company.
Total Project cost is up to US$140 million equivalent in ZAR of which IFC’s proposed unfunded risk participation is up to US$70 million equivalent in ZAR.
Absa is a leading Pan-African financial services group offering banking, insurance and financial products and services to individuals, corporates and small and medium enterprises clients. Headquartered in Johannesburg, south Africa, it is the third largest commercial bank in South Africa with operations in Botswana, Ghana, Kenya, Mauritius, Mozambique, Uganda, Tanzania, Seychelles, and Zambia.
Company: Absa Bank Ltd
Point of Contact: Francois Visagie
Telephone Number: +27 11 895 6041
Mailing Address: 15 Alice Lane, Sandton, Gauteng, South Africa, 2196
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/